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Exclusive: Republican U.S. tax framework sets 20 percent corporate rate

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Republicans in the U.S. Congress and the White House called for slashing tax rates on businesses and the wealthy on Wednesday, as part of a new tax plan that offers few details about how to pay for tax cuts without expanding the federal deficit.

Hammered out over months of high-level talks among Trump aides and top Republicans in Congress, the plan proposes: a 20 percent corporate income tax rate; a new 25 percent tax rate for pass-through businesses including partnerships; and a reduced 35 percent top income tax rate for individual Americans, according to a framework seen by Reuters.